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Mobile TeleSystems

November 25, 2019

MTS agrees to sell Ukraine operations

MOSCOW, Russia — MTS (NYSE: MBT, MOEX: MTSS), Russia’s leading telecommunications operator and digital services provider, announces the signing of a binding agreement with Telco Solutions and Investments LLC, controlled by telecommunication company Bakcell LLC, which is a part of NEQSOL Holding international group of companies, to sell its telecommunications operations in Ukraine. Concurrently, on November 23 the MTS Board of Directors (“BoD” or “the Board”) recommended to approve a special dividend in the amount of RUB 13.25 per ordinary share (RUB 26.50 per ADR).

In accordance with the agreement, MTS’s wholly owned subsidiary Allegretto s.a.r.l. sells its 100% stake in its Dutch subsidiary Preludium B.V. (the “Company”), the sole shareholder of VF Ukraine PrJSC, for cash consideration of USD 734 m (including approximately USD 84 m earn-out), calculated by reference to an enterprise value of the Company of USD 848 m. The transfer of the Company shares is expected shortly.

In addition, the MTS Board of Directors took the following decisions at a meeting held on November 23:

·                                 To call for and set December 30, 2019 as the date for an Extraordinary General Meeting of shareholders (“the EGM”);

·                                 To set the record date for the Company’s shareholders entitled to participate in the EGM as December 6, 2019;

·                                 To recommend that the EGM approves special dividends in the amount of RUB 13.25 per ordinary MTS share (RUB 26.50 per ADR), or in total of RUB 26.5 bn (RUB 26,478,321,820.75) based on the Company’s performance in the first nine months of 2019 and taking into consideration the deal to sell VF Ukraine PrJSC;

·                                 To recommend that the EGM set the record date for shareholders entitled to receive special dividends for January 10, 2020;

·                                 To approve the agenda for the EGM, as well as procedures surrounding the preparation and organization of the EGM.

MTS President & CEO Alexey Kornya commented: “This deal is in line with our revamped strategy to build innovative digital services on top of a strong telecoms foundation. As our core market, Russia accounts for over 90% of Group revenue. Given the small share of our Ukrainian operations in our overall business, we reaffirm our commitment to fulfilling our updated dividend policy and continuing to generate attractive returns for our shareholders.”

* * *

For further information, please contact in Moscow:

Investor Relations Department 
Mobile TeleSystems PJSC 
Tel: +7 495 223 2025 




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